Funds under management (FUM) at Brooks Macdonald declined 3.9% in the third quarter to 31 March 2022, closing the period at £16.7bn, down from £17.3bn at 31 December 2021.
According to the firm, this was due to the exacerbation of pre-existing macroeconomic difficulties by war in Ukraine.
Positive net flows continued over the quarter at the group, however, ending the period at £0.2bn, in line with annualised net flows of 4.1%.
FUM within its bespoke portfolio service (BPS) declined from £9.8m at January 1 2022, to £9.3m at March 31 2022.
Managed portfolio assets increased, from £2.8m to £2.9m.
Funds across its DCF, UKIM, and International fund services declined over the quarter.
"This has been a solid quarter for Brooks Macdonald, despite the volatile market backdrop driven by the war in Ukraine, with continuing positive net flows providing further evidence of the success of our strategy," said Andrew Shepherd, CEO of Brooks Macdonald.
"As ever, this is primarily down to the commitment and high quality delivery of our people, who give me great confidence in the group's continued success."
In its half year results to December 2021, the firm reported FUM had climbed to £17.3bn, up 5.3% on the six months to June 2021, which closed at £16.5bn.
FUM in the three months to December 2021 was up 3.1% compared to the previous quarter.